Course summary COMESA (The Common market for Eastern and Southern Africa)
The strategy of the COMESA (Common market for Eastern and
Southern Africa) is "economic welfare through
regional
integration in Southern Africa".
COMESA (Common market for Eastern and Southern Africa) Members economies: Angola, Burundi, Comoros, Democratic Republic of Congo,
Djibouti, the Arab Republic of Egypt,
Eritrea, Ethiopia, Kenya, the Kingdom of Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia,
Rwanda, Seychelles, Somalia, Sudan, Swaziland, Tanzania, Uganda, Zambia, and Zimbabwe.
The objective of the COMESA (Common market for Eastern and Southern Africa)
is develop a Free trade area removing all internal trade tariffs and barriers
The COMESA (Common market for Eastern and Southern Africa) FTA (Free trade area) was achieved in 2000
when 9 of the member economies (Djibouti, Kenya, Madagascar, Malawi,
Mauritius, Sudan, Zambia and Zimbabwe) eliminated their tariffs on originating products
from COMESA countries.
This followed a international trade liberalization program that started in
1984 on reduction (and eventual elimination) of tariff and non-tariff barriers
to international trade in the COMESA region. Burundi and Rwanda joined the
COMESA Free Trade Area in 2004.
These 11 economies of the COMESA (Common market for Eastern and Southern Africa) FTA (Free trade area) have not only eliminated
customs tariffs but are working on the eventual elimination of quantitative
restrictions and other non-tariff barriers.
Example of the course: COMESA
Other objectives which will be
met to assist in the achievement of trade promotion include:
- Regional trade liberalization and Customs cooperation.
- Improving the administration of transport and Communications to ease the
movement of export products, services and people between the economies of the
COMESA region.
- Creating an enabling environment and legal framework
- The coordination of macro-economic and monetary policies.
COMESA (Common market for Eastern and Southern Africa) plans to become a customs union.
Practically all countries in Southern Africa will belong to a customs union and those countries that
at this time belong to more than
one Regional economic communities will have to decide which customs union to join.
The Eastern and Southern African Trade and Development Bank (PTA
Bank) was founded in 1985 following the dispositions of the Treaty of 1981 establishing the Preferential Trade Area (PTA), which has
since been transformed into the Common market for Eastern and Southern African States (COMESA), as a financial arm of the integration arrangement.
